Macy’s Inc. has appointed Robert Chavez, former Hermes Americas CEO, to the board. He faces challenges influencing strategy of the company that needs changes.
Tag Archives: Hermes
Hermès Is Close On Chanel’s Heels As Luxury’s Number Two Brand And Gaining Ground
Chanel just announced revenues rose 16% to $19.7 billion in 2023 on a comparable basis at constant currency. It exceeded the 14% organic growth of industry leader LVMH’s Fashion and Leather Goods reporting segment but fell short of Hermès’ 21% advance on constant exchange rates, yet it surpassed Hermès in revenues of $14.5 billion (€13.4 […]
Hermès Class-Action Lawsuit Threatens To Expose Luxury Trade Secrets
Luxury leader Hermès has been hit with a class-action lawsuit alleging the company is engaged in the “unlawful practice of tying,” requiring customers to purchase ancillary Hermès products, such as shoes, scarves, and jewelry, before being given the opportunity to purchase a Birkin or Kelly bag. Claiming the company violates antitrust laws and is engaged […]
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases. In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion […]
Why Instant Gratification Isn’t the Answer for Luxury Brands
A recent Luxury Daily article entitled “Is fashion’s love affair with see-now, buy-now over?,” questioned whether this emerging trend in the luxury market may well have hit a wall. Tom Ford has announced that after one year of testing the concept, it was abandoning the effort. Thakoon has done the same. ‘See-now, buy-now’ is intended […]
